The economic offence wing CID on Thursday arrested Aphro Trust chairman I P Yesudas after he failed to heed a court direction to repay cash collected from depositors.
He was already arrested and detained under Goondas Act for allegedly cheating hundreds of investors promising loans and collecting initial amounts from them.
Based on the complaints, central crime branch police registered a case and arrested Yesudoss in 2012. Later, the case was forwarded to the EOW-CID, as complainants from many districts submitted petitions against Yesudas.
‘Aphro’ Yesudas arrested again
In 2014, IP Yesudas, chairman of Aphro Trust and an accused in several cheating cases, surrendered at the Economic Offences Wing office in the city.
According to reports, Yesudas had opened a firm called Aphro Finance Company in Chennai and Tirupur, and used to collect deposits on the pretext of giving 20 per cent to 30 per cent interest.
Initially for a few months,